RWA Wealth Partners LLC Grows Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

RWA Wealth Partners LLC increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,509 shares of the cryptocurrency exchange’s stock after acquiring an additional 201 shares during the period. RWA Wealth Partners LLC’s holdings in Coinbase Global were worth $623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its position in shares of Coinbase Global by 51.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 72,681 shares of the cryptocurrency exchange’s stock worth $18,047,000 after purchasing an additional 24,536 shares during the last quarter. Allianz SE purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $263,000. WealthTrak Capital Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth $75,000. Allstate Corp acquired a new position in Coinbase Global during the 4th quarter worth $1,420,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Coinbase Global by 36.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 346 shares of the cryptocurrency exchange’s stock worth $86,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $174.52 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The firm has a 50-day simple moving average of $234.50 and a 200-day simple moving average of $242.97. The company has a market capitalization of $44.31 billion, a price-to-earnings ratio of 18.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now directly owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 22,842 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $2,936,968.98. The trade was a 68.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,609 shares of company stock worth $61,331,908 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Piper Sandler increased their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Bank of America dropped their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Finally, Mizuho dropped their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.